Australian Dollar

Markets are sliding into risk off mode today in Asia following the sour mood on Wall Street overnight with a sea of red on all bourses.

By Chris Becker  The latest US Federal Reserve meeting last night didn’t provide the punchbowl that risk markets were expecting, even though interest rates are going to at zero for years to come.

  Markets inverted their risk profile today in Asia with Chinese stocks selling off as the Yuan surges against USD, Japanese markets tread water and local shares lift strongly in line with Wall Street overnight.

It’s just awful listening to the lunatically conservative RBA, via yesterday’s minutes: The US dollar had depreciated significantly against the currencies of other advanced economies over recent months, including the Australian dollar.

By Chris Becker  Last night saw a continuation of the bounce on Wall Street, while a stronger than expected ZEW Survey still failed to ignite animal spirits across Europe, although better employment stats from the UK saw the FTSE move significantly higher.

Markets are quite mixed in Asia today despite the strong surge on Wall Street overnight and the positive Chinese data with only Chinese equities really putting any runs on the board.

By Chris Becker  Last night saw another surge on Wall Street on hopium with traders jumping on the rumors and swirling around coronavirus vaccine news, although European stocks were less impressed.

  Markets have started the week here in a generally positive fashion across Asia, despite a mixed and flat lead on Wall Street on Friday night, with Japanese stocks leading the way, while the local ASX200 is trying to breakout again.

By Chris Becker  Friday night saw a wobbly finish to stock markets in Europe and the US after an equally mixed session here locally in Asia.

  The stock selloff wasn’t as wide here in Asia, following yet another reversal on Wall Street overnight, with the ASX200 the standout, looking set to finish the week below 5900 points.

By Chris Becker  Wall Street reversed course – again – overnight with the latest ECB meeting adding to the volatility as Euro swung wildly on the lack of concern about the currency itself, as all other policy measures were left unchanged.

The bounceback continues here in Asia, with most stock markets putting in solid sessions following the rebound on Wall Street overnight.

By Chris Becker  Wall Street rebounded last night with bargain hunting overtaking fear of the bubble popping as half of the previous losses were clawed back.

Via the AFR: Agricultural export giants are pleading for the government to resolve its tensions with China and privately fear they could lose lucrative deals.

The big selloff on Wall Street has been more or less replicated here in Asia, although with less downside, as S&P futures race back in late trade to try to cover the falls overnight.

Some more optimism returns to Asian share markets with the strong lead from the lone European bourses overnight, with S&P futures indicating a solid open on the return of US traders from their long weekend.

By Chris Becker  Even though Wall Street was closed for the Labor Day weekend, last night saw some volatility on equity markets with big gains across Europe, despite some disappointing economic prints including industrial production and consumer sentiment.

Asian share markets were largely down across the region, although Australian stocks have rallied against expectations, with this sentiment shift also changing as European bourses open.

You’ve got to love this from the Global Times: China may gradually reduce its holdings of US Treasury bonds to about $800 billion from the current level of more than $1 trillion, as the ballooning US federal deficit increases default risks and the Trump administration continues its blistering attack on China, experts said.

By Chris Becker  A big rise in US employment figures and a subsequent drop in the headline unemployment rate was not enough for stock markets to get through their “wibble” moments, with the NASDAQ leading the way with another fall, and European bourses in lockstep.

Asian share markets have fallen across the region, but not at the same levels as Wall Street overnight, although the ASX200 is having a go at it.